“Institutions can send Bitcoin under $ 1000”
1 min read
Bitcoin will undergo its third maintenance, known as Bitcoin halving, in just over a month. Few would believe that 18 million BTC are already mined. A maximum of 21 million units can be extracted. Therefore, Bitcoin halving is expected to have a positive effect on price. But to what extent does Bitcoin affect speculation and what will be the price after halving?
Mike Belshe, CEO and founder of BitGo, highlighted Bitcoin’s increasing adoption among institutions that generate profits from trading large amounts of capital. Moreover, according to him, legislation must finally move, which moves the cryptocurrency market to a level where it will not be possible to manipulate the market with the help of large capital.
Bitcoin is extremely susceptible to this manipulation, inter alia, at a time when halving is approaching.
Belshe said:
“I think what keeps the institution at bay is some uncertainty about what the government would do. Regulators will always have more power than they. ”
However, institutions can also bring some benefits in the form of natural and rationally controlled capital. This will help in the process in which the cryptocurrency becomes a full-fledged asset.
According to an Accuti survey, many are still afraid of currency instability and low liquidity that would result in not so profitable trades.
